Reuters: Financial Services and Real Estate: UPDATE 1-Greek banks continue to bleed deposits -ECB data

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Greek banks continue to bleed deposits -ECB data Mar 28th 2012, 10:03 Tweet Share this Email Print Wed Mar 28, 2012 6:03am EDT (Adds graphic) FRANKFURT, March 28 (Reuters) - Firms and consumers continued to pull their money out of Greek banks at a rapid rate in February, European Central Bank data showed on Wednesday, underscoring the ongoing lack of trust the country's banking system faces. Private sector deposits in Greek banks fell by 2.7 percent in February after a near 3 percent drop in January, with the total falling to 170.1 billion euros, the lowest level since October 2006. They are now 30 percent below their peak of December 2009. Private-sector deposits in Portugal and other countries in the middle of the debt crisis fared much better, with the figures roughly flat in Portugal and Spain, dropping less than 1 percent in Ireland and rising more than 1 percent in Italy. With the exception of Portugal, there has been a steady decline in the amount of money parked in banks in all peripheral countries in the last year. Monthly fluctuations in the figures are common, though sharp consecutive drops in countries with stable banking systems are unusual. The data, which are for all currencies combined, are not seasonally adjusted and differ slightly from national central bank figures. The measure excludes deposits from central government and financial institutions. (Reporting by Marc Jones) Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions